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Summit Technology Group Announces Bankers Analytics By Lenders Cooperative

Summit Technology Group (STG) announced the availability of a new analytics service on their Lenders Cooperative platform. Bankers Analytics by Lenders Cooperative is a flexible platform built on Amazon QuickSight, a cloud-native, serverless business intelligence service powered by Amazon Web Services (AWS).

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  • Bankers Analytics is a solution that allows financial service clients to access powerful analytics while leveraging newer technologies like machine learning.
  • The offering allows Bankers to ask questions in natural language of their banking data and get immediate responses without having to spend time on complex queries or legacy dashboard building.
  • Bankers Analytics supports easy single sign-on capabilities integrated with the bank’s active directory environment – hosted in a fully secure and dedicated banking cloud.
  • Banks only pay for what they use – no large up-front fees, or large monthly bills.

The Lenders Cooperative Loan Origination platform supports hundreds of lenders across the United States as they originate, underwrite, and book small business and commercial loans. Bankers Analytics extends this platform and allows financial institutions to extract business intelligence – including pipeline reporting, portfolio concentration reporting, customer profitability, and market intelligence.

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“We are extremely excited to launch this package to the banking industry that allows them to take our pre-fabricated business intelligence and link their core banking information, mortgage LOS data, CRM data, and any other financial datasource within the Bank,” commented Ben Wallace, Chief Executive Officer at STG. “Our bank partners that are using the Lenders Cooperative platform have the ability to finally see a comprehensive view of their bank’s data in one centralized place, and it is actually easy to build and leverage.”

“Plus, using AWS allows us to offer this solution at an extremely low cost to our banking partners – effectively they only pay as they utilize the solution,” noted Ben. “Far too often banks will buy an analytics package but not fully extract or realize the value immediately. Our solution enables the Banks to begin their data management journey – and grow into their investment as the organization adopts and gains value from the business intelligence.”

Penn Community Bank, the largest mutual bank in eastern Pennsylvania, is one of the earlier adopters and is co-innovating with Lenders Cooperative to mature this framework – including the Loan Origination system and Bankers Analytics service. “It is exciting to work with the Lenders Cooperative team as they help us innovate and consider new ways to support small business customers. Partnerships with organizations like STG help us ensure we are continually improving our processes,” said Charles Field, Penn Community Bank Chief Financial Officer.

“Over the past two decades, AWS has built the technology, expertise, and culture of innovation to be a world leader in cloud computing, artificial intelligence, and machine learning. We’ve used these capabilities to make life better for customers around the world through products and services like Amazon QuickSight. We’re excited that Summit Technology Group and the Lenders Cooperative solution can provide this valuable service to community and regional Banks,” said Rebecca Wetherly, Director, WWPS System Integrator Partners at AWS. “Using AWS, they can offer the community banking market powerful tooling to help them modernize and improve how they deliver services to their banking clients.”

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